Bank of Nova Scotia (NYSE:BNS) Shares Bought by M&T Bank Corp

Cornelia Mascio
Marzo 19, 2018

Virtu Financial LLC bought a new stake in Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. TD Asset Management Inc. now owns 38,795,439 shares of the bank's stock worth $2,487,821,000 after acquiring an additional 523,053 shares in the last quarter. Kassirer Asset Management Corp increased its position in shares of Bank of Nova Scotia by 9.6% during the third quarter. Can now owns 13,611,106 shares of the bank's stock worth $873,039,000 after acquiring an additional 913,814 shares in the last quarter. Investec Asset Management PTY Ltd increased its position in shares of Bank of Nova Scotia by 3.4% during the third quarter. CIBC Asset Management Inc now owns 12,584,409 shares of the bank's stock worth $806,732,000 after acquiring an additional 101,510 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Bank of Nova Scotia by 17.6% during the third quarter. The stock decreased 0.06% or $0.04 during the last trading session, reaching $62.85.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last posted its quarterly earnings results on Tuesday, February 27th. They expect $1.30 earnings per share, up 5.69% or $0.07 from last year's $1.23 per share. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.10.

Eagle Bancorp Montana pays an annual dividend of $0.36 per share and has a dividend yield of 1.8%. The stock has a market capitalization of $75,294.30, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.27. Given Bank of Nova Scotia's higher probable upside, analysts clearly believe Bank of Nova Scotia is more favorable than Eagle Bancorp Montana.

Several brokerages have issued reports on BNS.

This is a breakdown of current ratings and target prices for Eagle Bancorp Montana and Bank of Nova Scotia, as provided by MarketBeat. Zacks Investment Research upgraded Bank of Nova Scotia from a "sell" rating to a "hold" rating in a report on Wednesday, January 17th. National Bank Financial increased their price target on shares of Bank of Nova Scotia from C$86.00 to C$88.00 and gave the stock an outperform rating in a research note on Wednesday, November 29th. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. Bank of Nova Scotia had a net margin of 22.69% and a return on equity of 14.78%. The company was maintained on Tuesday, August 29 by Canaccord Genuity. The company had revenue of $7.09 billion for the quarter, compared to analyst estimates of $7.01 billion. Bank of Nova Scotia pays out 48.9% of its earnings in the form of a dividend.

ILLEGAL ACTIVITY WARNING: "Bank of Nova Scotia (BNS) Stake Raised by M&T Bank Corp" was originally posted by StockNewsTimes and is owned by of StockNewsTimes.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 26th.

Bank of Nova Scotia declared that its board has authorized a share buyback plan on Monday, February 12th that authorizes the company to repurchase outstanding shares. Stockholders of record on Tuesday, April 3rd will be paid a dividend of $0.6454 per share. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. The ex-dividend date of this dividend is Monday, April 2nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock.

The Bank of Nova Scotia is an worldwide bank and a financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. RBC Capital Markets has "Outperform" rating and $72 target.

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